Table of contents

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1. Introduction to Accounting1h 21m
2. Transaction Analysis1h 13m
3. Accrual Accounting Concepts2h 38m
4. Merchandising Operations2h 30m
5. Inventory1h 55m
6. Internal Controls and Reporting Cash1h 16m
7. Receivables and Investments3h 8m
8. Long Lived Assets5h 1m
9. Current Liabilities2h 19m
10. Time Value of Money1h 23m
- Time Value of Money Equations
  35m
- Using Time Value of Money Tables
  47m
11. Long Term Liabilities2h 45m
12. Stockholders' Equity2h 15m
13. Statement of Cash Flows2h 24m
14. Financial Statement Analysis5h 25m
15. GAAP vs IFRS56m

4. Merchandising Operations

Net Sales

Financial Accounting

4. Merchandising Operations

Net Sales

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Multiple Choice

If a company sells 500 pounds of chocolate for a total net sales revenue of $2,000, what is the unit price per pound of chocolate?

$5.00

$4.00

$2.50

$3.00

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Verified step by step guidance

Step 1: Understand the problem. The company sells 500 pounds of chocolate for a total net sales revenue of $2,000. The goal is to calculate the unit price per pound of chocolate.

Step 2: Recall the formula for unit price. Unit price is calculated by dividing the total net sales revenue by the total quantity sold. The formula is:

\frac{Total Net Sales Revenue}{Total Quantity Sold}

Step 3: Substitute the given values into the formula. The total net sales revenue is $2,000, and the total quantity sold is 500 pounds. The formula becomes: